Burlington Stores (NYSE:BURL) Price Target Raised to $315.00

Burlington Stores (NYSE:BURL) had its price objective raised by analysts at Bank of America from $275.00 to $315.00 in a report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s target price would suggest a potential upside of 17.43% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Citigroup lifted their price target on shares of Burlington Stores from $258.00 to $276.00 and gave the company a “buy” rating in a research note on Friday, May 31st. TD Cowen lifted their price objective on shares of Burlington Stores from $279.00 to $288.00 and gave the company a “buy” rating in a report on Friday. Telsey Advisory Group reissued an “outperform” rating and set a $300.00 price objective on shares of Burlington Stores in a report on Thursday. JPMorgan Chase & Co. lifted their price objective on shares of Burlington Stores from $284.00 to $288.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Finally, Loop Capital lifted their price objective on shares of Burlington Stores from $270.00 to $345.00 and gave the company a “buy” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Burlington Stores currently has an average rating of “Moderate Buy” and a consensus price target of $294.94.

Burlington Stores Stock Performance

Burlington Stores stock opened at $268.24 on Friday. The company has a 50 day moving average price of $252.19 and a 200-day moving average price of $222.65. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.52 and a current ratio of 1.07. Burlington Stores has a fifty-two week low of $115.66 and a fifty-two week high of $282.49. The company has a market capitalization of $17.12 billion, a PE ratio of 44.93, a P/E/G ratio of 1.36 and a beta of 1.61.

Burlington Stores (NYSE:BURL) last posted its quarterly earnings results on Thursday, August 29th. The company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.25. Burlington Stores had a net margin of 3.87% and a return on equity of 46.39%. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter in the previous year, the firm posted $0.60 earnings per share. The company’s revenue was up 13.4% on a year-over-year basis. As a group, equities analysts forecast that Burlington Stores will post 7.61 earnings per share for the current year.

Insider Activity

In other news, CMO Jennifer Vecchio sold 494 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $255.37, for a total transaction of $126,152.78. Following the sale, the chief marketing officer now directly owns 61,907 shares of the company’s stock, valued at $15,809,190.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.91% of the company’s stock.

Institutional Investors Weigh In On Burlington Stores

A number of large investors have recently made changes to their positions in BURL. International Assets Investment Management LLC purchased a new stake in shares of Burlington Stores during the fourth quarter valued at $129,730,000. CWM LLC lifted its position in Burlington Stores by 10.5% during the fourth quarter. CWM LLC now owns 1,346 shares of the company’s stock valued at $262,000 after purchasing an additional 128 shares during the period. GAMMA Investing LLC acquired a new position in Burlington Stores during the fourth quarter valued at $41,000. Truist Financial Corp lifted its position in Burlington Stores by 6.9% during the fourth quarter. Truist Financial Corp now owns 19,031 shares of the company’s stock valued at $3,701,000 after purchasing an additional 1,226 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Burlington Stores by 34.0% during the fourth quarter. Victory Capital Management Inc. now owns 28,989 shares of the company’s stock valued at $5,638,000 after purchasing an additional 7,349 shares during the period.

Burlington Stores Company Profile

Burlington Stores, Inc operates as a retailer of branded merchandise in the United States. The company provides fashion-focused merchandise, including women's ready-to-wear apparel, menswear, youth apparel, footwear, accessories, toys, gifts, and coats, as well as baby, home, and beauty products.